PAR Technology (NYSE:PAR) Reaches New 52-Week High Following Better-Than-Expected Earnings

PAR Technology Co. (NYSE:PAR) shares hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $75.00 and last traded at $75.00, with a volume of 431 shares. The stock had previously closed at $74.24.

The software maker reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $96.80 million during the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. PAR Technology’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the business posted ($0.35) EPS.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Lake Street Capital increased their price objective on PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research note on Monday. Benchmark lifted their price objective on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price objective on PAR Technology from $59.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday. Needham & Company LLC lifted their price target on shares of PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. Finally, StockNews.com upgraded shares of PAR Technology to a “sell” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.38.

Institutional Investors Weigh In On PAR Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of PAR Technology in the 2nd quarter valued at about $32,000. Amalgamated Bank lifted its stake in PAR Technology by 25.5% in the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after buying an additional 237 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of PAR Technology in the first quarter valued at approximately $99,000. nVerses Capital LLC purchased a new position in shares of PAR Technology during the third quarter worth approximately $125,000. Finally, RiverPark Advisors LLC acquired a new position in shares of PAR Technology in the 2nd quarter valued at $191,000.

PAR Technology Stock Performance

The stock has a market cap of $2.72 billion, a PE ratio of -299.64 and a beta of 2.14. The firm’s 50-day moving average is $57.93 and its 200 day moving average is $51.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.80 and a current ratio of 3.12.

About PAR Technology

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.